First-Time Home Buyer Mortgages
Down payment rules, pre-approval and closing costs explained in plain language before you make an offer.
Learn moreFinancing built around rental income
Ontario - License #11000073 · Nova Scotia - Licence #2023-3000786 · Mortgage Outlet Inc #12628
Investment and rental property mortgages in Ontario
Rental financing is decided by how a lender treats the rent. Two lenders can look at the same duplex and land thousands of dollars apart on what you qualify for.
Who this is for
- Buying a first rental or adding to a portfolio
- Duplex, triplex or legal second-suite properties
- Have 20% or more down payment available
- Refinancing an existing rental to fund the next purchase
What's included
Rental offset versus add-back
We place your file with the lender whose rental income treatment gives you the most room.
Property-level analysis
Rent roll, vacancy assumption, taxes and condo fees run through the qualification before you offer.
Portfolio structuring
How each purchase affects the next one, so property three is still financeable.
Multi-unit guidance
Where 2–4 unit residential rules end and commercial underwriting begins.
Down payment on Ontario rental properties
A non-owner-occupied rental requires at least 20% down; default insurance is not available. If you live in one unit of a two-to-four unit property, lower down payments can apply and rental income from the other units may still help you qualify.
How lenders count rent
Some lenders offset a percentage of gross rent against the property's expenses. Others add a share of rent to your income. The offset approach usually qualifies investors for more, which is why lender selection matters more here than on any other file type.
Planning past this purchase
Investors run out of room with a lender long before they run out of down payment. We map how many doors your current structure supports and which lenders remain available at each step.
How the process works
- 1
Portfolio review
Existing properties, rents, mortgages and how each lender counts them against you.
- 2
Rental income modelling
We test add-back and offset methods to see which lender qualifies you highest.
- 3
Structure and down payment
20% minimum on rentals; we confirm source, reserves and closing cash.
- 4
Approval and appraisal
Appraisal with a market rent schedule where the lender requires it.
Documents we'll ask for
- T1 generals with statement of real estate rentals (two years)
- Current leases for each rental unit
- Mortgage statements and property tax bills for existing properties
- Personal income documents
- 20% down payment source, verified 90 days
Documents come in through secure upload — never plain email. Missing something? Send what you have and we'll tell you what still matters.
Run the numbers
Calculators for this file
Mortgage Payment Calculator
See your payment at any frequency, the interest you pay over the term, and the balance left at maturity.
Open calculatorMortgage Affordability Calculator
Find your maximum purchase price using the same GDS, TDS and stress-test limits Ontario lenders apply.
Open calculatorOntario Land Transfer Tax Calculator
Provincial and Toronto municipal land transfer tax, with first-time buyer rebates applied automatically.
Open calculatorRelated mortgage services
Mortgage Pre-Approval
A rate-held pre-approval with A-lender documentation so your offer holds up with sellers and agents.
Learn moreSelf-Employed Mortgages
Business-for-self files structured properly, using the income lenders will actually recognise.
Learn moreCredentials you can check
A-lender access
Banks, monolines and credit unions compared side by side.
Mortgage Agent Level 2
Licensed Mortgage Agent Level 2 serving Ontario borrowers.
Same-day callbacks
You speak with an agent, not a call queue.
CMP Top 75 Agent 2025
Recognized among Canada’s top mortgage professionals in 2025.
15+ years experience
Helping Ontario borrowers find the right mortgage for over 15 years.
- Can rental income help me qualify for a mortgage?
- Yes. Lenders use either a rental offset or an add-back method, and the choice can change your approval materially. Existing leases and market rent appraisals both matter.
- Are rates higher on rental properties?
- Usually slightly, because uninsured rentals carry more lender risk. The spread is often smaller than investors expect, and terms vary more than rates.
- Do you finance properties with more than four units?
- Five or more units is commercial underwriting with different documentation and timelines. We focus on one-to-four unit residential and will tell you plainly when a property crosses that line.
Find out what you actually qualify for
Send the basics and we'll come back with real lender options, or call and get an answer on the first conversation.